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Hong Kuang Group Articles and Commodities News

Hong Kuang Group Articles and Commodities News | Hong Kuang Commodities | Scoop.it

Hong Kong faces risks from QE exit, Shanghai zone

 

Hong Kong is facing twin challenges next year, with increased market risks due to the expected ending of monetary easing in the United States and keener competition from regional rivals such as Singapore and Shanghai's free-trade zone, the city's central bank chief and business leaders said yesterday.

 

At a General Chamber of Commerce business summit, Hong Kong Monetary Authority chief executive Norman Chan Tak-lam warned local businesses and investors to beware of the risks of an outflow of funds and a sharp rise in interest rates if, as expected, US monetary policy changes next year.

 

Another challenge is competition from rivals, with a chamber survey released at the summit showing 73 per cent of members considered Singapore a better financial centre than Hong Kong.

 

The survey, to which 319 member companies responded, also showed 60.2 per cent thought Hong Kong's competitiveness had deteriorated in the past year, against 31.7 per cent who said it was unchanged and just 8.1 per cent who thought it had improved.

 

It also found that 53 per cent of companies plan to give pay rises of up to 5 per cent next year, with about 20 per cent of firms planning rises of between 5 and 10 per cent, but 23 per cent not planning any rise at all.

 

Chan warned Hongkongers to beware of the risks related to the impending US exit from the quantitative easing programme - the monetary easing policies adopted by the Federal Reserve since the global financial crisis in 2008.

 

The QE programme has injected US$2.8 trillion into the market to boost the US economy but has also led to capital flowing into Hong Kong's stock and property markets. An outflow is likely when QE ends.

"US can't have QE forever," Chan said. "The US government will exit from the market sooner or later. It may be in March or May next year. We will keep warning the public not to incur excessive debt simply because interest rates are currently at very low levels.

 

"The exit from QE will have a negative spillover effect here. We need to stand ready to face the shockwaves."

 

HSBC Asia-Pacific chief executive Peter Wong Tung-shun said at the summit that Hong Kong companies needed to prepare for challenges from Shanghai and other mainland free-trade zones, which would compete with Hong Kong for talent and business.

 

"We need to have the right attitude to face these challenges," Wong said. "We need to position ourselves to prepare for the next 10 years of development of China. We need to stay ahead."

 

He said Hong Kong needed to think of its position when the yuan became freely convertible, maybe as early as in 2020, or when Shanghai introduced an international board.

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Hong Kuang Commodities, Get your Retirement back on track

Hong Kuang Commodities, Get your Retirement back on track | Hong Kuang Commodities | Scoop.it
  For many who are 50-something, their shortfall in retirement savings is not completely caused by a lack of planning.
Nina Brinkley's insight:

As you approach your 60th year, you look forward to those years when you will enjoy your retirement. But when reality sets in, the time needed to prepare financially runs out, especially if you have a serious shortage of funds for retirement. A study by the Fidelity Research Institute showed that the average 50-something is capable of replacing only 55% of their income with savings, social security and pension-income, leaving a 45% shortfall and very little time to address the deficit. For many, that requires putting in extra years of work until they are no longer capable physically or mentally.


Source: http://hongkuangcommodities.com/

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Hong Kuang Commodites Blog Hong Kong | Popular Posts Page 1

Hong Kuang Commodites Blog Hong Kong, Popular Posts Page 1
Nina Brinkley's insight:

What would you do if you could return to the past and be able to converse to your younger self regarding investing? Assume, for the sake of argument, that Younger You does not run away screaming from Older You and that such an encounter does not create a disturbance in the space-time continuum.


Read more: http://hongkuangcommodities.com/

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Nina Brinkley's comment, September 11, 2013 3:42 AM
Many people are just not that financially educated.
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Hong Kuang Commodites Blog Hong Kong | Popular Posts Page 3

Hong Kuang Commodites Blog Hong Kong, Popular Posts Page 3
Nina Brinkley's insight:

For many who are 50-something, Their shortfall in retirement savings is not completely caused by a lack of planning. Many of them lost much of Their savings During the Recent financial crash in 2008 and for 2009. Then, They were forced to take on a higher risk profile than They Should to try to comp sate for Their Losses, Which failed as planned for many, Further Aggravating the set-back in savings. Investors who are nearly retiring might be tempted to Increase the Risks They take in order to make sudden gains; but overdoing it can be disastrous. There are other, less dangerous means of getting your retirement plans back on track even if you will within only 10 to 15 years. Let us look at some:

 

If retiring at 65 is not practicable, think of postponing it a few years till you reach 68 or 70. This willprovide you with additional time to accumulate additional funds and can help you attain your goal for retirement savings.

 

Read more: http://hongkuangcommodities.com/

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Hong Kuang Commodities, UOB sets aim high with new Hong Kong unit

 
United Overseas Bank (UOB), one of Singapore's three biggest banks by assets, has launched a new foreign direct investment (FDI) advisory unit in Hong Kong and aims to double its business...
Nina Brinkley's insight:

UOB plans to double its business between Hong Kong and Southeast Asia in three years. Ip said she was confident of achieving that goal with growing FDI and trade volumes in the region.

Trade between Hong Kong and Asean grew 26 per cent to US$93.57 billion from 2007 to 2012, while UOB' business rose 51 per cent between the first half of 2012 and the first half of this year.

 

 

Read more: http://www.scmp.com/business/banking-finance/article/1311956/uob-sets-aim-high-new-hong-kong-unit

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